A Credit Bureau-free car loan can be granted through a credit intermediary, in a car dealership or at a foreign bank. In contrast, it is almost impossible for a German bank or savings bank to grant a loan without Credit Bureau. It is completely irrelevant whether it is a car loan or a normal installment loan.
Numerous credit brokers offer their services on the Internet. For this reason, it is often very difficult to choose a suitable credit intermediary. They should take their time, take the customer’s needs seriously and make no unrealistic promises. In addition, no costs or fees should ever be paid in advance. A credit broker who insists is dubious and should be avoided. A Credit Bureau-free car loan can come from Switzerland or another European country. The credit intermediary regulates all the formalities that are required in this connection.
Many people prefer a dealership loan. This has the advantage that the financing and the purchase can be carried out under one roof and that the borrowing rates are often very low. If a larger down payment is made or the customer is already known to the car dealer as reliable, a Credit Bureau-free car loan can be granted. The dealership is always responsible for making this decision. There is no legal claim to a Credit Bureau-free car loan.
If you want, you can contact a foreign bank directly and apply for a Credit Bureau-free car loan there. There can be serious differences in terms of the loan amount, the interest rate and the other conditions. Employees or civil servants have the greatest chance of getting a car loan without Credit Bureau, and for self-employed or freelancers, applying for a loan from a foreign bank is usually doomed to fail. They have neither a fixed employment contract nor a fixed income and cannot prove sufficient security against the bank. It may also happen that the bank has set an upper age limit for lending.
Car loans for the unemployed
Unemployed people who do not have a car find it very difficult to find a new job. For this reason, it can happen that the job center approves a small loan to buy a used car.